New England B.S. Thread

Pocket change

 

we bought in 17 I’m considering reappraising might drop my pmi but if we sold we’d just pay high rent somewhere until prices dropped anyway. So. Hold out for now. That’s why we bought what and when we did I guess.

 

Nah I'll just go down to my basement where I hide the gold bars and chip off a little

 

I see the housing market setting us up for another massive economic crash at some point. How is it not going to bite us in the ass if people are routinely paying 40k over the fair market value? Not good.

 

I enjoy wiring projects I have a debt to settle with you anyway

AND I have a heater in my garage

 

Come on up here and I'll show you

 

yes and no, with the interest rates the way they are people can “afford” the extra 40-50k @2-3% that 5 years ago would’ve been @ a 4-5% rate. The market is driving the prices, not a lot of inventory.

 

I predict a mass exodus in a few years as the city refugees decide this isn't for them and leave.

I was actually starting to think about buying some land to eventually build on, but not with prices the way they are right now.

 

Who wants to smoke some crack with me and get to wrenching on my next project????

https://www.dieselworldmag.com/diesel-cars/6-0l-interceptor/

 

That million plus property I posted that was listed not even 3 days ago on the lake in Hopkinton is already under contract...

one of you guys??

 

Not me.

This was definitely a shitty time for me to move back to New England. Currently renting now, but plan on buying soon. Still up in the air about buying land and trying to find someone to build vs buying an existing place and probably having to gut it.

 

Buy high interest and refinance lower

 

@Bridge4 you know, Florida's land prices aren't bad and the taxes are low. It's the same drive to work for me and only slightly longer for the girlfriend. Am I crazy to want to build up there? I love it, but it's out there. Not quite Monroe or Rowe, but not far off either.

 

As long as mortgage regulations stay safe it won’t be an issue. Just a lot of idiots from the city will loose their hats in 5 years. Not something I care about lol

yes this. They will leave and we can get things back to normal. Can’t wait.

have a few friends who grew up there and love it. Have a friend who lives down Moore’s road behind the hotel and it’s beautiful.

If you don’t mind the drive I’d go for it.

 

I'd think that renting for a little while might be beneficial for you. Hopefully the social distancing property bubble will calm down in a few months, and you can get a decent property, even just a lot, for a decent price.

 

I like North County--stores in North Adams are so much less chaotic than Pittsfield, and being relatively equally distant from Bennington, Pittsfield, or Greenfield is nice too. These lots are really only about 10 minutes from where I am now, so it makes it relatively easy to deal with a construction project in a few years.

 

I see this as being a pretty temporary spike as the people who can:
A) afford the premium for waterfront/country housing right now
B) work remotely
blitz out of the cities into the country. I think that once that initial surge is over things will start stabilizing again. Since most of the people doing the purchasing right now are more affluent anyway (or, at least the ones I've talked to are) you're probably not going to see the collapse of '07 repeated in a couple of years.

 

The housing market is insane right now. I have been looking for the last year and finally just scored one. Granted I only made 3 offers over the search period, two rejected due to being outbid - I was very particular on what I wanted and the garage/workspace. The house I landed on has a 2 car oversized attached garage, 2 car oversized detached garage with loft and an unfinished basement for my hobby space. 4 other offers were sent in, I was the highest because instead of bidding 400k I bid 402k assuming everyone else would have done 400 even.